Overview
- President Rumen Radev returned amendments to the investment-promotion law, arguing they unconstitutionally subordinate the Council of Ministers to the State Agency for National Security (DANS).
- Parliament had adopted the Oct. 24 changes to require government decisions, based on DANS consent, for property and share deals in four Bulgarian companies controlled by LUKOIL.
- Lawmakers also voted down a MECH-backed bill to nationalize LUKOIL’s Bulgarian assets, with support from Vazrazhdane but opposed by a larger bloc and many abstentions.
- U.S. sanctions announced on Oct. 22 require transactions with LUKOIL entities to wind down by Nov. 21, and the EU’s Oct. 23 package added restrictions on Litasco Middle East DMCC.
- LUKOIL has reported receiving a purchase offer from Gunvor for Lukoil International GmbH, saying key terms are agreed and that it has committed to exclusivity.